European oil and related stocks rise boosted by crude volatility
XLE•Single-name movers
Among single names, Viridien VIRI.PA gains around 4.4% and Maurel & Prom MAUP.PA rise around 2.4%, while SBM Offshore SBMO.AS edges up around 1.7%.
Repsol REP.MC, Galp Energia GALP.LS, Technip Energies TE.PA and Vaar Energi VAR.OL are up around 1%.
TotalEnergies TTEF.PA rises 1.1%, the company also reported major progress towards a final investment decision for its Papua LNG project.
European oil stocks rise on firmer crude
European oil stocks rise as the sector remains broadly well-oriented, supported by firmer and more volatile crude prices, an analyst says.
STOXX Europe 600 Oil & Gas index .SXEP rises around 1.2%, the most among all STOXX 600 .STOXX sub-indices.
Brent crude futures LCOc1 trade around $96.04 a barrel as concerns related to the Iran war and the absence of any easing in tensions around the Strait of Hormuz continue to support oil prices and sentiment across the oil and gas sector.
